London Faces Huge Financial Cost Because of Extreme Heat
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(Bloomberg) — London’s efforts to deal with rising temperatures come at a considerable financial cost that will require the city to turn to private investors for help, the mayor of the UK capital said.
Stocks Rise on Signs US Economy Is in Good Shape: Markets Wrap
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(Bloomberg) — Wall Street traders lifted stocks as signs the world’s largest economy remains solid despite elevated inflation bolstered bets that Corporate America’s earnings will keep powering ahead.
Partners Group to Pare Back Evergreen Funds, Chairman Says
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(Bloomberg) — Partners Group Holdings AG is considering paring back the overall sizes of its so-called evergreen funds for wealthy investors, while broadly keeping its investment approach unchanged even after a bruising stock selloff this month.
Heat Wave Breaks French and UK Records as Temperatures Soar
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(Bloomberg) — The heat wave baking western Europe broke records in the UK and France, as the region faces another day of soaring temperatures.
Switzerland’s Capital Plan for UBS Wins Wholehearted IMF Backing
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(Bloomberg) — The Swiss government’s plan to make UBS Group AG hold significantly more capital was praised wholeheartedly by the International Monetary Fund.
SNB Must Stay Nimble for Hike or Cut to Negative Rate, IMF Says
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(Bloomberg) — The Swiss National Bank must stay ready to either raise or cut interest rates if economic circumstances require it, the International Monetary Fund said.
Holcim Says Europe Labor Shortage Hands Win to Asian Builders
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(Bloomberg) — Labor shortages are complicating a recovery in Europe’s construction market, with Asian contractors increasingly stepping in to fill the personnel gap, according to Swiss cement maker Holcim AG.
Swiss President Will Meet US’s Jamieson Greer Amid Tariff Spat
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(Bloomberg) — Swiss President Guy Parmelin will meet US Trade Representative Jamieson Greer later this month for talks as the two countries aim to finalize a broader trade deal amid renewed tariff pressure from Washington.
A $30 Billion Cancer Breakthrough Is Under Threat From Global Conflicts
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(Bloomberg) — At the Hirslanden clinic overlooking Switzerland’s picturesque Lake Lucerne, prostate cancer patient Jörg Pegelow lies on a reclining chair as a doctor wearing two sets of gloves — one made with lead — injects a saline solution laced with a radioactive drug into a vein in his arm.
Stocks Climb Late After Micron’s Blowout Outlook: Markets Wrap
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(Bloomberg) — Stocks climbed in late hours on speculation that Micron Technology Inc.’s strong outlook will help reignite confidence in the artificial-intelligence trade that has powered the market rally from war-driven lows.
France Records Hottest Day as European Heat Wave Intensifies
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(Bloomberg) — France recorded its hottest ever night and day as the heat wave searing western Europe deepened, disrupting schools, transport and tourist sites.
Rubio Meets Gulf Leaders After Rocky Start to US-Iran Talks
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(Bloomberg) — US Secretary of State Marco Rubio met the leaders of the United Arab Emirates and Kuwait on Wednesday, as he looks to reassure Persian Gulf allies of the strength of an interim peace agreement with Iran.
Masayoshi Son Calls AI Bubble Talk an ‘Insult,’ Delays Retiring
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(Bloomberg) — SoftBank Group Corp.’s Masayoshi Son brushed aside concerns about an AI bubble, saying that such a characterization is inappropriate for a revolution that’s only just begun. He vowed to remain at the helm of his investment group much longer to capitalize on the AI boom.
Trump Defends Unfreezing Iran Funds as Senate Rebukes Him on War
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(Bloomberg) — President Donald Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the US, seeking to ease concerns about peace negotiations that both sides say are making progress.
Stocks Slide as Wall Street Gets AI Wake-Up Call: Markets Wrap
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(Bloomberg) — Wall Street got a reality check as a bruising selloff in several technology giants fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown.
Platinum Is Said Sole Remaining Bidder for Nestle Water Unit
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(Bloomberg) — Platinum Equity is the last remaining bidder for Nestle SA’s water business after rival Clayton Dubilier & Rice dropped out of the race, according to people familiar with the matter.
Iran Oil Waiver Offers Lifeline to Tehran as Talks Proceed
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(Bloomberg) — The US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal.
Stocks Fall as SpaceX’s Rout Offsets US-Iran Hopes: Markets Wrap
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(Bloomberg) — Wall Street traders drove stocks down from the brink of record highs as a slide in several tech giants overshadowed optimism about progress in peace talks between the US and Iran. Oil retreated.
Iran Cites ‘Major Progress’ After All-Night Talks With US
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(Bloomberg) — Iran said there had been “major progress” in all-night discussions with the US, as the warring sides try to reach a peace deal within two months.
US and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz Open
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(Bloomberg) — The US and Iran made “encouraging progress” in talks on a peace deal and will continue technical-level discussions this week, mediators said, even as President Donald Trump again threatened strikes if Hezbollah keeps attacking Israel.
